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Comcast spending $150 million for 8 percent stake in Arris

2013-01-16 09:36 by
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The nation's largest cable service provider, Comcast, is investing $150 million in cable box manufacturer Arris, the companies announced today. Arris announced the agreement yesterday to sell roughly 10.6 million shares of its common stock, valued at $150 million, to Comcast. The deal will be completed in conjunction with Arris' purchase of the Motorola Home business from Motorola Mobility, a subsidiary of Google, that was worth $2.35 billion.

"We believe this investment by one of our largest customers is a strong indication of customer support for the Motorola Home acquisition and its potential to accelerate innovation to the benefit of the industry and consumers," Arris CEO Bob Stanzione said in a prepared statement.

Comcast will also take a more active role in working with Arris on its cable/video box strategy going forward. Hopefully, that means many cable subscribers can look forward to better set-top boxes with more functionality than the current selection offers.

Read more -here-

 

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